Stock market today: S&P 500, Nasdaq lead rally as Nvidia jumps, markets brush off Trump tariff threats
Published On Feb 10, 2025, 4:58 PM
US stocks showed a rebound as investors reacted positively to expected tariffs on steel and aluminum imports proposed by President Trump. Notably, the Dow rose nearly 0.4%, the S&P 500 gained about 0.6%, and the Nasdaq saw an increase of around 1%, influenced largely by tech stocks like Nvidia. Steel companies, including Cleveland-Cliffs, Nucor, and US Steel, also experienced stock price hikes following the tariff news. Market sentiment is mixed, reflecting concerns about rising inflation due to tariffs, but some analysts interpret these tariffs as a negotiation tactic rather than a full-on trade war. Furthermore, market participants are anticipating upcoming earnings reports and inflation data this week.
Stock Forecasts
CLF
Positive
The increase in tariffs may benefit US steel companies significantly, leading to increased profits and stock prices for these firms. Conversely, the overall market sentiment regarding inflation concerns could dampen broader market performance if inflation rises unexpectedly, impacting sectors outside of steel production.
NVDA
Positive
Nvidia's strong performance amid bullish analyst ratings showcases its resilience in the tech sector, with anticipated growth due to ongoing AI developments and its strategic position in the semiconductor industry. This sector is expected to continue growing as demand for AI applications rises.
XLE
Positive
Energy stocks are likely to benefit from the rebound in oil prices, and increased demand amid inflationary pressures may keep them buoyant. Investors view energy stocks favorably during times of rising costs, directly impacting consumer spending and inflation.
Related News
The Magnificent 7 trade is struggling — Here's why
Feb 10, 2025, 1:17 PM
The Mag 7 trade has cooled down. Here is the simplest reason why.
Stock market today: Dow, S&P 500, Nasdaq bounce back as Trump tariff move buoys steelmakers
Feb 10, 2025, 9:30 AM
Investors are weighing Trump's pledge on Sunday to introduce additional 25% tariffs on steel and aluminum from all countries.
Stock market today: Dow, S&P 500, Nasdaq set to bounce back as Trump tariff move buoys steelmakers
Feb 10, 2025, 7:51 AM
Investors are weighing Trump's pledge on Sunday to introduce additional 25% tariffs on steel and aluminum from all countries.